IRVINE, CA-MICE DisplayWorks has signed a $16 million lease for another 10 years at its 205,000-sf headquarters at 6489 and 6585 Oak Canyon Rd. in one of the largest leases in South Orange County this year. The company, which designs and builds high-end trade show exhibits, renewed its lease with the Irvine Co. in a deal negotiated on behalf of the tenant by SVP Kevin Turner of Colliers International's Irvine office.
Turner says that MICE was considering a relocation to the Inland Empire, but decided to remain in Orange County to stay close to its employees and client base. The 205,000-sf headquarters includes distribution and warehouse facilities as well as office space.
The buildings at 6489 and 6585 Oak Canyon Rd. have been home to MICE DisplayWorks for 10 years. The Irvine facilities house approximately 140 of the 200 employees at the company, which is a unit of Britain's MICE Group PLC, with additional offices in San Mateo and in Portland, OR. The Irvine Co. was represented by Sue Lyle.
The MICE lease is one example of what many say has been a resurgence of industrial space leasing in Orange County and the rest of the Los Angeles Basin, where a recent Colliers market report predicted "strong demand for industrial space" throughout the basin. That same report, however, cautioned that "Lack of available space in Los Angeles and Orange Counties, however, will likely continue to restrain the amount of activity that can take place."
The lack of available space is one reason that many firms have turned to the Inland Empire, where land is abundant and generally less expensive than in Orange and Los Angeles counties.
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